ZTE to pay $1B penalty in deal with U.S. Commerce Department

The U.S. Commerce Department has struck a deal with China’s ZTE, paving the way for the telecom giant to again do business with U.S. companies. Commerce Secretary Wilbur Ross said Thursday that ZTE agreed to pay the largest penalty ever levied by the department’s Bureau of Industry and Security, and that the company will “adopt unprecedented compliance measures.”
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